Electreon, a leading provider of wireless electric vehicle charging technologies, has entered China, the world’s largest EV market, the company announced October 3.
Electreon’s China entry has come on the back of a memorandum of understanding (MOU) with the Shandong Innovation and Entrepreneurship Community for International Science and Technology Cooperation (SITEC), which is a provincial science and technology innovation arm led by Shandong Hi-Speed Group (SDHS), a Fortune 500 state-owned company.
Interestingly, the agreement with SITEC paves the way for the introduction of Electreon's innovative charging technologies in Shandong province, the second largest province in China.
Israel-based Electreon already has operational projects in Germany, Italy, Sweden, Israel and the US. The company has already signed deals for additional projects in Germany, its first project in France, and another in Norway in 2022, Electreon said, adding that entering China will enable it to ramp up its mass manufacturing and production capacities, while keeping costs down.
Electreon CEO Oren Ezer said, “This strategic collaboration with SITEC marks a significant leap forward in Electreon's mission to electrify transportation worldwide. Shandong province, being the world's EV manufacturing hub, is the ideal location to launch our innovative wireless charging technology in China. We are excited to partner with SITEC to introduce our cutting-edge wireless charging solutions to the pioneering Chinese market, ultimately contributing to the sustainable transformation of transportation in China and beyond.”
SITEC Chairman Shang Min said, “SITEC is committed to fostering innovation and advancing sustainable transportation solutions both domestically and internationally. We believe that Electreon's wireless electric road technology has the potential to revolutionize EV charging infrastructure in China. This partnership aligns perfectly with our mission of innovation and sustainability, and we are eager to work alongside Electreon to make this vision a reality in Shandong province and beyond.”
Significance: The partnership between the two companies encompasses several phases. For example, the first phase, which will commence in the fourth quarter of 2023, will feature the debut of Electreon's wireless charging technologies at the Jinan Shandong Hi-Speed industrial park, which may later be used to transport SITEC personnel within the park. Electreon will also integrate its technology with EVs from one of the biggest Chinese bus manufacturers, Zhongtong Bus. The first deployment is expected to showcase innovative EV charging technology to key clients, partners and other stakeholders in the Chinese market.
Moreover, under this collaborative initiative, Electreon plans to also establish a Chinese subsidiary company and employ local talent to bolster its presence in the strategically important Chinese market.
The agreed second phase of the Electreon-SITEC partnership is of commercial significance to both the partners. Together they plan to deploy tens of kilometers of Electreon's dynamic charging system, hundreds of stationary charging stations and install the company's technology on several hundred urban electric buses in Liaocheng city, which is situated in the west of Shandong province.
In the third phase, both partners plan to launch a wireless charging project for electric trucks operating within the Weifang Port, along with the integration of Electreon's technology into Sinotruk vehicles, which is the country's largest truck manufacturer.
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